ADDISON, TEXAS— Newmark has brokered the sale of The Colonnade, an approximately 1 million-square-foot office campus located in the northern Dallas metro of Addison. The campus spans 12.4 acres and comprises three buildings that are connected by an enclosed, four-story atrium. The Colonnade was sold through the receivership process, with Stephen Schwalb, Chris Murphy, Robert Hill, Gary Carr and Austin Sheahan of Newmark representing the seller, a partnership between Trigild and CWCapital, in the transaction. The buyer, a partnership between Connecticut-based Cross Ocean Partners and Dallas-based Lincoln Property Co., has committed to investing approximately $100 million to reposition the campus. Initial property improvements are underway, with the first phase of upgrades expected to be completed throughout 2027.
The partnership plans to enhance the campus’s existing fitness center, conference facilities and atrium lounge with new amenities that promote community, wellness and productivity. New offerings will include an artisan coffee shop, tenant lounges, outdoor gathering spaces, a pickleball court, an indoor golf simulator and expanded dining options.
Newmark Brokers Sale of 1 MSF Colonnade Office Campus in Addison, Texas
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